Ad Group WPP’s New Strategy Targets Growth in Line With Rivals
- CEO Read targets simpler company that’s easier to manage
- Shares rise up to 7.3 percent on promise of stable dividends
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WPP Plc plans to cut 2,500 jobs in a bid to grow sales in line with peers and keep its dividend payout stable, under a strategy overhaul by new Chief Executive Officer Mark Read.
Shares in the advertising group rose the most since April after the company announced the plan, including job reductions that represent about 1.9 percent of total headcount.